L'Oreal China president dies in Italy at age 63

The president of L'Oreal China, who helped set up the Chinese business for the French cosmetic giant based in Shanghai and was awarded a high city honor, has died in Italy.

Paolo Gasparrini died of illness at the age of 63 on Saturday after medical treatment failed, Alexis Perakis-Valat, chief executive officer of L'Oreal China, said in the statement posted on the company's official Weibo late on Sunday.

"The company is saddened by the loss of Gasparrini, who was the founding father of L'Oreal China and had made indelible contribution to the company's business operations in China," said the statement.

Italian-born Gasparrini joined L'Oreal in 1987 as general manager of the luxury products division in Italy. In 1996, he helped the company set up its Chinese business headquartered in Shanghai and has been president and managing director of the subsidiary.

Shanghai honored Gasparrini with the Magnolia Silver Award in 2006 for his outstanding contributions to the city's development.